Short Term Rental Secrets Podcast Ep 221 - Expert STR Tax Strategies with Amanda Han
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Dec 23, 2024 In this insightful discussion, Amanda Han, a CPA and tax strategist, shares her expertise on real estate tax strategies for investors. She reveals how to maximize profits through smart deductions and highlights the benefits of depreciation as a game-changer. Amanda simplifies concepts like the short-term rental tax loophole and material participation, making them accessible for everyone. She also emphasizes the importance of strategic tax planning for growth and generational wealth, debunking common misconceptions along the way.
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Short-Term Rental Tax Loophole
- Understand the short-term rental tax loophole to offset W-2 income.
- Ask your CPA about real estate professional status for short-term rentals to gauge their expertise.
Test Your CPA's Knowledge
- Trick your CPA by asking about "real estate professional" status for short-term rentals.
- If they mention it, they likely don't understand the loophole.
Year-End Tax Planning
- Buy properties in Q3/Q4 to maximize year-end tax benefits.
- Ensure the property is placed in service and track your hours diligently.